Real estate transactions for Feb. 11, 2013

HOUSTON CHRONICLE |
February 10, 2013

OLD, ABOVE: Hicks Ventures acquired 16350 Park Ten Place and a second building in April. NEW, LEFT: The lobby modernization is among the improvements, along with new roofs, mechanical systems and elevator upgrades at the buildings.

OLD, ABOVE: Hicks Ventures acquired 16350 Park Ten Place and a second building in April. NEW, LEFT: The lobby modernization is among the improvements, along with new roofs, mechanical systems and elevator upgrades at the buildings.

Sales

Land

M & D Development has purchased 16.7 acres at 16702 House Hahl from Barrie and Davolyn Jackson. Keith and Brandon Jaehne with General Property & Services represented the seller.

Discount Tire has purchased 1.2 acres from OCC II to develop a store at Oyster Creek Crossing, a commercial development located on Texas 6 at Trammell Fresno Road in Missouri City. The seller was represented by Scott W. Weaver of Rubicon Realty Group. Tim Opatrny of TAO Interests represented the buyer.

Wartercrest at Kingwood, L.P. has purchased 16.6 acres in Kingwood Place West for an independent living senior housing development. The land is on Kingwood Place Drive, south of Northpark. Edward Taravella with Taracorp represented both parties.

Alliance Residential Fund I has sold the Broadstone Gramercy, a 224-unit multifamily rental community at 2601 Gramercy. The development includes 252,404 square feet with units averaging more than 1,100 square feet. Ryan Epstein of CBRE represented the seller. The community is 95 percent occupied.

CBRE has negotiated the sale of Skyview at Palm Center, a 360-unit complex at 5514 Griggs in southeast Houston. Ryan Epstein of CBRE represented the seller. The property was built in 2000 with units averaging 1,162 square feet.

CBRE has negotiated the sale of Stone Park Apartments, a 480-unit community at 6160 East Sam Houston Parkway North. Ryan Epstein of CBRE represented the seller. The property was completed in two phases in 2004 and 2007 and has units averaging 864 square feet.

Leases

Office

White Rhino Financial Services has leased almost 9,000 square feet at 55 Waugh. Chad Beck with Jones Lang LaSalle handled the lease. The new office will allow the financial services and employee benefits firm to double its number of financial professionals to more than 50 in 2013, as well as adding support staff, according to CEO Patrick Dickson. The property is owned by 55 Waugh LP and managed by Ned Holmes Investments.

Future Petroleum has renewed and expanded for a total of 6,651 square feet at the 1455 West Loop building. Kevin Nolan and Bob Cromwell of Moody Rambin Interests represented the owner, Koswood Investments. Charles G. Fertitta Jr. with Colliers International represented the tenant.

Applied Cryo Technologies has leased 173,000 square feet at 7150 Almeda Genoa for its corporate headquarters. The space will be used for the design and manufacture of cryogenic trailers and cryogenic mobile storage equipment for the oil and gas, industrial gas and emerging LNG markets. Jim Auten­reith and Griff Jaggard of Moody Rambin Interests represented the tenant.

Franchise owner Terry Nordenstrom has opened a Jersey Mike's Subs at 103 Yale. Nordenstrom opened his first location at 1635 Eldridge Parkway last February and plans to open several stores in the Houston area in 2013.

Steak 'n Shake has opened at 20971 Gulf Freeway in Webster. Franchisee Anil Mohammed also operates the Pearland location.

Bone Daddy's House of Smoke has opened at 19901 Gulf Freeway in Webster.

High Tower Deli, a Houston-based upscale deli serving employees in high-rise office buildings, has opened its third location in the Houston area. The new deli is at 15731 Park Row in the Energy Corridor.